Startups ranked by AI-estimated valuation
Brazil’s 50 most valuable startups
A quarterly ranking of non-listed Brazilian startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; AI models estimate it.
Listed benchmarks
Nu Holdings (Nubank) · Fintech › digital bank · NYSE · NU (IPO Dec 2021)PagSeguro Digital (PagBank) · Fintech › payments and digital bank · NYSE · PAGS (IPO Jan 2018)StoneCo · Fintech › merchant payments and banking · Nasdaq · STNE (IPO Oct 2018)Inter&Co · Fintech › digital bank · Nasdaq · INTR (US listing 2022)PicPay · Fintech › digital wallet and bank · Nasdaq · PICS (IPO Jan 2026)AGI (Agibank) · Fintech › consumer digital bank · NYSE · AGBK (IPO Feb 2026)
Not ranked: no intention is possible on a listed company.
The market at a glance
50companies ranked
28companies on the radar
USD 1.7bnraised in 2025
412rounds in 2025
Equity only: Brazilian startups raised USD 4.5bn in 2025 across 459 rounds, but only USD 1.74bn (39%) in 412 rounds was equity: receivables funds (FIDC) and debt made up the rest, and equity fell about a third from USD 2.6bn in 2024 (Sling Hub). Brazil ended 2025 without a new unicorn. In 2026 the decline continued while the rest of Latin America recovered: Crunchbase counts USD 270M in Q1 and USD 350M in Q2 2026 for Brazil (-11% year on year), while Latin American funding rose 47% in Q2, led by Mexico. Sources: Sling Hub / ABCVC / Alya, 'Ecossistema de Inovação Aberta & CVC no Brasil' (full year 2025), via Startups, Jan 2026, Sling Hub preliminary 2025 vs 2024, via Bloomberg Línea, Dec 2025, Sling Hub, January 2026, via Baguete, Feb 2026. Intention counters will be shown above a threshold of amount and number of Backers.
National ranking · all sectors
Snapshot20 Oct 2026A snapshot taken on 20 Oct 2026
This ranking shows the startups as they stood on 20 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 6 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
This ranking shows the startups as they stood on 20 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 6 Jan 2027.
Spotted a more recent round? Tell us →First edition: no movements yet.
By sector44% Fintech14% Mobility & logistics10% Commerce8% Business software8% Food & agriculture4% AI4% Edtech4% Proptech4% Other
| # | Company | Sub-sector | Known funding | Estimated valuation (AI) · range | Pool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool. Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only. Terms for Backers → | BackBacking a startup on Uback (pronounced “you back”) can be done in two ways: Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once. Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk. Neither is an order nor a commitment to invest. Terms for Backers → |
|---|---|---|---|---|---|---|
| 1 | C6 BankSão Paulo · founded 2018 Net profit R$2.46bn in 2025 (ROE ≈45%); credit book R$89bn; JPMorgan holds 46%, founder Marcelo Kalim main shareholder. |
Fintech › digital bank | raised Growth equity · USD 250M · Dec 2020 (Tiger Global, Credit Suisse) |
Last known equity round: Growth equity · USD 253M · Dec 2020 (Tiger Global, Credit Suisse) Published valuation: USD 2.2bn (Dec 2020)Method |
Be the first | Back |
| 2 | CreditasSão Paulo · founded 2012 Record revenue in 2Q26; Q4 2025 revenue R$582.7M; targets breakeven in 2026; owns Minuto Seguros. |
Fintech › secured lending | raised Series G · USD 110M · Dec 2025 (Andbank Group), valued at USD 3.3bn |
Last known equity round: Series G · USD 108M · Dec 2025 (Andbank Group) Published valuation: USD 3.3bn (Dec 2025)Method |
Be the first | Back |
| 3 | CloudWalkSão Paulo · founded 2013 Reported USD 70M profit and about USD 500M annualised revenue; obtained a 'financeira' (SCFI) licence. |
Fintech › merchant payments | USD 365M+ raised Series C · USD 150M · Nov 2021 (Coatue; DST Global, FIS, Plug and Play, The Hive) |
Last known equity round: Series C · USD 150M · Nov 2021 (Coatue; DST Global, FIS, Plug and Play, The Hive) Published valuation: USD 2.1bn (Nov 2021)Method |
Be the first | Back |
| 4 | EBANXCuritiba · founded 2012 Founders keep majority control; expanding into Southeast Asia and Africa. |
Fintech › cross-border payments | raised Growth equity · USD 430M · Jun 2021 (Advent International; FTV Capital) |
Last known equity round: Growth equity · USD 430M · Jun 2021 (Advent International; FTV Capital)Method | Be the first | Back |
| 5 | QuintoAndarSão Paulo · founded 2013 | Proptech › rental and sales marketplace | USD 700M+ raised Series E (incl. extension) · USD 420M · Aug 2021 (Ribbit Capital; Greenoaks, Tencent) |
Last known equity round: Series E (incl. extension) · USD 420M · Aug 2021 (Ribbit Capital; Greenoaks, Tencent) Published valuation: USD 5.1bn (Aug 2021)Method |
Be the first | Back |
| 6 | QI TechSão Paulo · founded 2018 Bought Autobanking to enter vehicle credit. |
Fintech › credit infrastructure | raised Series B (incl. Aug 2025 extension) · USD 310M · Aug 2025 (General Atlantic, Across Capital) |
Last known equity round: Series B (incl. Aug 2025 extension) · USD 313M · Aug 2025 (General Atlantic, Across Capital)Method | Be the first | Back |
| 7 | EnterSão Paulo · founded 2023 Handles more than 300,000 lawsuits a year for clients such as Bradesco, Nubank and Mercado Livre. |
AI › legal AI | USD 140M+ raised Series B · USD 100M · May 2026 (Founders Fund; Sequoia Capital, Ribbit Capital, Kaszek, Atlantico), valued at USD 1.2bn |
Last known equity round: Series B · USD 100M · May 2026 (Founders Fund; Sequoia Capital, Ribbit Capital, Kaszek, Atlantico) Published valuation: USD 1.2bn (May 2026)Method |
Be the first | Back |
| 8 | Frete.comSão Paulo · founded 2013 | Logistics › digital freight | raised Growth equity · USD 200M · Nov 2021 (SoftBank, Tencent; BID Invest, LightRocket, Valor Capital Group, Reinvent) |
Last known equity round: Growth equity · USD 200M · Nov 2021 (SoftBank, Tencent; BID Invest, LightRocket, Valor Capital Group, Reinvent) Published valuation: USD 1bn (Nov 2021)Method |
Be the first | Back |
| 9 | MeramaSão Paulo · founded 2020 | E-commerce › brand aggregator | raised Equity round · USD 45M · Apr 2025 (Marcel Telles; Advent International, SoftBank, Balderton Capital, Monashees), valued at USD 1bn |
Last known equity round: Equity round · USD 45M · Apr 2025 (Marcel Telles; Advent International, SoftBank, Balderton Capital, Monashees) Published valuation: USD 1bn (Apr 2025)Method |
Be the first | Back |
| 10 | LoftSão Paulo · founded 2018 Transactions up 55% in H1 2026 to 338,000 (company). |
Proptech › real-estate platform | USD 700M+ raised Series D (incl. extension) · USD 520M · Apr 2021 (D1 Capital Partners; Andreessen Horowitz, Tiger Global) |
Last known equity round: Series D (incl. extension) · USD 525M · Apr 2021 (D1 Capital Partners; Andreessen Horowitz, Tiger Global) Published valuation: USD 2.9bn (Apr 2021)Method |
Be the first | Back |
| 11 | AliceSão Paulo · founded 2019 Revenue BRL 350M in 2024, more than 65,000 members (Sep 2025). |
Healthtech › health insurance | BRL 1bn+ raised Series C (incl. extension) · USD 150M · Feb 2025 (SoftBank; Kaszek, ThornTree, Canary, Globo Ventures) |
Last known equity round: Series C (incl. extension) · USD 149M · Feb 2025 (SoftBank; Kaszek, ThornTree, Canary, Globo Ventures)Method | Be the first | Back |
| 12 | AsaasJoinville · founded 2010 Revenue R$500M (2025), targeting R$1bn by 2026. |
Fintech › SME payments & billing | USD 187M (Distrito) raised Series C · USD 150M · Oct 2024 (BOND; SoftBank, 23S Capital, Endeavor Catalyst) |
Last known equity round: Series C · USD 147.7M · Oct 2024 (BOND; SoftBank, 23S Capital, Endeavor Catalyst)Method | Be the first | Back |
| 13 | PetloveSão Paulo · founded 1999 | E-commerce › pet care | raised Growth equity · USD 140M · Aug 2021 (SoftBank, L Catterton; Monashees, Riverwood, Porto Seguro, Kamaroopin) |
Last known equity round: Growth equity · USD 143M · Aug 2021 (SoftBank, L Catterton; Monashees, Riverwood, Porto Seguro, Kamaroopin) Published valuation: USD 667M (Aug 2021)Method |
Be the first | Back |
| 14 | BuserSão Paulo · founded 2017 | Mobility › intercity bus marketplace | raised Series C · USD 140M · Jun 2021 (SoftBank, Lightrock) |
Last known equity round: Series C · USD 138M · Jun 2021 (SoftBank, Lightrock)Method | Be the first | Back |
| 15 | OmieSão Paulo · founded 2013 | Fintech › SME ERP & finance | USD 296M (Distrito) raised Growth equity (mostly secondary shares) · amount undisclosed · Sep 2025 (Partners Group), valued at USD 700M |
No equity round with a disclosed amount. Published valuation: USD 700M (Sep 2025)Method |
Be the first | Back |
| 16 | HotmartBelo Horizonte · founded 2011 | Edtech › creator economy platform | raised Growth equity · USD 130M · Mar 2021 (TCV; Alkeon Capital) |
Last known equity round: Growth equity · USD 129M · Mar 2021 (TCV; Alkeon Capital) Published valuation: USD 1bn (Mar 2021)Method |
Be the first | Back |
| 17 | NeonSão Paulo · founded 2016 BBVA holds about 30% since the 2022 Series D. |
Fintech › digital bank | raised Series E (incl. Jul 2025 extension) · USD 130M · Jul 2025 (IFC, DEG) |
Last known equity round: Series E (incl. Jul 2025 extension) · USD 127M · Jul 2025 (IFC, DEG)Method | Be the first | Back |
| 18 | Wildlife StudiosSão Paulo · founded 2011 Cut about 20% of staff in Nov 2022 and 13% in Jun 2023. |
Gaming › mobile games | USD 250M+ raised Series B · USD 120M · Dec 2020 (Vulcan Capital) |
Last known equity round: Series B · USD 120M · Dec 2020 (Vulcan Capital) Published valuation: USD 3bn (Dec 2020)Method |
Be the first | Back |
| 19 | CelcoinSão Paulo · founded 2016 | Fintech › banking-as-a-service | USD 156M (Distrito) raised Series C · USD 120M · Jun 2024 (Summit Partners; Innova Capital, John Coughlin) |
Last known equity round: Series C · USD 119M · Jun 2024 (Summit Partners; Innova Capital, John Coughlin)Method | Be the first | Back |
| 20 | CoraSão Paulo · founded 2019 Company reports financial sustainability (breakeven) at six years. |
Fintech › SME digital bank | raised Series B · USD 120M · Aug 2021 (Greenoaks; Ribbit Capital, Kaszek, QED, Tiger Global) |
Last known equity round: Series B · USD 116M · Aug 2021 (Greenoaks; Ribbit Capital, Kaszek, QED, Tiger Global)Method | Be the first | Back |
| 21 | DockSão Paulo · founded 2014 Bought SCD DM (pending Central Bank approval) and Credisfera assets (Dec 2025); AI-credit partnership with Ant International. |
Fintech › banking-as-a-service | raised Series D · USD 110M · Mar 2022 (Lightrock, Silver Lake; Viking Global, Goldman Sachs Asset Management) |
Last known equity round: Series D · USD 110M · Mar 2022 (Lightrock, Silver Lake; Viking Global, Goldman Sachs Asset Management) Published valuation: USD 1.5bn (Mar 2022)Method |
Be the first | Back |
| 22 | Open CoSão Paulo · founded 2021 | Fintech › consumer lending | raised Series C · USD 110M · Dec 2021 (SoftBank Latin America Fund; Raiz Investimentos, IFC, LTS) |
Last known equity round: Series C · USD 105.8M · Dec 2021 (SoftBank Latin America Fund; Raiz Investimentos, IFC, LTS)Method | Be the first | Back |
| 23 | CERCSão Paulo · founded 2015 | Fintech › receivables infrastructure | raised Growth equity · USD 110M · Oct 2022 (Mubadala Capital; Valor Capital) |
Last known equity round: Growth equity · USD 105.8M · Oct 2022 (Mubadala Capital; Valor Capital) Published valuation: USD 310M (Oct 2022)Method |
Be the first | Back |
| 24 | SólidesBelo Horizonte · founded 2008 | HR tech › HR software for SMEs | raised Series B · USD 100M · Feb 2022 (Warburg Pincus) |
Last known equity round: Series B · USD 100M · Feb 2022 (Warburg Pincus)Method | Be the first | Back |
| 25 | KoviSão Paulo · founded 2019 | Mobility › car rental for drivers | raised Series B · USD 100M · Aug 2021 (Valor Capital, Prosus) |
Last known equity round: Series B · USD 100M · Aug 2021 (Valor Capital, Prosus)Method | Be the first | Back |
| 26 | SolfácilSão Paulo · founded 2018 Raised BRL 1bn via FIDC debt in Feb 2025. |
Fintech › solar financing | raised Series C · USD 100M · May 2022 |
Last known equity round: Series C · USD 100M · May 2022Method | Be the first | Back |
| 27 | UnicoSão Paulo · founded 2007 | Fintech › digital identity | raised Series D · USD 100M · Apr 2022 (Goldman Sachs; SoftBank, General Atlantic) |
Last known equity round: Series D · USD 100M · Apr 2022 (Goldman Sachs; SoftBank, General Atlantic) Published valuation: USD 2.6bn (Apr 2022)Method |
Be the first | Back |
| 28 | GupySão Paulo · founded 2015 | HR tech › recruiting software | raised Equity round · USD 92M · Jan 2022 (SoftBank, Riverwood Capital) |
Last known equity round: Equity round · USD 92M · Jan 2022 (SoftBank, Riverwood Capital)Method | Be the first | Back |
| 29 | DescomplicaRio de Janeiro · founded 2011 Cut about 20% of staff in a later restructuring. |
Edtech › online higher education | raised Growth equity · USD 84M · Feb 2021 (Invus Opportunities, SoftBank; Valor Capital, Península, Chan Zuckerberg Initiative, Amadeus Capital) |
Last known equity round: Growth equity · USD 84.5M · Feb 2021 (Invus Opportunities, SoftBank; Valor Capital, Península, Chan Zuckerberg Initiative, Amadeus Capital)Method | Be the first | Back |
| 30 | LoggiSão Paulo · founded 2013 Investor CapSur marked its stake down 88% in Mar 2026, implying an enterprise value of BRL 1.19bn. |
Logistics › parcel delivery | raised Series F · USD 210M · Mar 2021 (CapSur Capital; Fundo Verde, Monashees, SoftBank, GGV Capital) |
Last known equity round: Series F · USD 212M · Mar 2021 (CapSur Capital; Fundo Verde, Monashees, SoftBank, GGV Capital)Method | Be the first | Back |
| 31 | MadeiraMadeiraCuritiba · founded 2009 | E-commerce › home and furniture | raised Series E · USD 190M · Jan 2021 (SoftBank, Dynamo; Monashees) |
Last known equity round: Series E · USD 190M · Jan 2021 (SoftBank, Dynamo; Monashees) Published valuation: USD 1bn (Jan 2021)Method |
Be the first | Back |
| 32 | SuperbacSão Paulo · founded 1995 | Agritech › bio-based fertilisers | raised Private equity (minority) · USD 62M · Jul 2023 (XP Private Equity) |
Last known equity round: Private equity (minority) · USD 62.5M · Jul 2023 (XP Private Equity)Method | Be the first | Back |
| 33 | OlistCuritiba · founded 2015 | E-commerce › merchant enablement | raised Series E · USD 190M · Dec 2021 (SoftBank Latin America Fund, Goldman Sachs Asset Management) |
Last known equity round: Series E · USD 186M · Dec 2021 (SoftBank Latin America Fund, Goldman Sachs Asset Management) Published valuation: USD 1.5bn (Dec 2021)Method |
Be the first | Back |
| 34 | NomadSão Paulo · founded 2019 More than 1 million accounts (2023). |
Fintech › global accounts & investing | USD 118M (Distrito) raised Series B · USD 61M · Aug 2023 (Tiger Global; Stripes, Monashees, Spark Capital, Propel) |
Last known equity round: Series B · USD 61M · Aug 2023 (Tiger Global; Stripes, Monashees, Spark Capital, Propel) Published valuation: USD 365M (Aug 2023)Method |
Be the first | Back |
| 35 | BlipBelo Horizonte · founded 1999 | AI › conversational platform | raised Series C · USD 60M · Nov 2024 (SoftBank; M12 (Microsoft)) |
Last known equity round: Series C · USD 60M · Nov 2024Method | Be the first | Back |
| 36 | ContabilizeiCuritiba · founded 2013 | Fintech › SME accounting | R$470M (≈USD 90M) raised Series C · USD 60M · Mar 2022 (SoftBank; Goldman Sachs, PruVen Capital) |
Last known equity round: Series C · USD 60M · Mar 2022 (SoftBank; Goldman Sachs, PruVen Capital)Method | Be the first | Back |
| 37 | Fazenda FuturoRio de Janeiro · founded 2019 | Foodtech › plant-based protein | raised Growth equity · USD 58M · Nov 2021 |
Last known equity round: Growth equity · USD 58M · Nov 2021Method | Be the first | Back |
| 38 | CayenaSão Paulo · founded 2020 | Foodtech › B2B food supply marketplace | USD 89.5M (total raised) raised Series B · USD 55M · Sep 2024 (Bicycle Capital; Picus, FEMSA Ventures, Astella, Globo Ventures) |
Last known equity round: Series B · USD 55M · Sep 2024 (Bicycle Capital; Picus, FEMSA Ventures, Astella, Globo Ventures)Method | Be the first | Back |
| 39 | SolinftecAraçatuba · founded 2007 | Agritech › AI farm management and robotics | raised Series D · USD 53M · May 2025 (YvY Capital; Rise | Life-Centered Investments) |
Last known equity round: Series D · USD 52.8M · May 2025 (YvY Capital; Rise | Life-Centered Investments)Method | Be the first | Back |
| 40 | AgrolendSão Paulo · founded 2021 Loan book above R$600M. |
Fintech › agri lending | raised Series C · USD 52M · Oct 2024 (Creation Investments, Syngenta; B3/L4, Vivo Ventures, Nochu Bank, Lightrock) |
Last known equity round: Series C · USD 52M · Oct 2024 (Creation Investments, Syngenta; B3/L4, Vivo Ventures, Nochu Bank, Lightrock) Published valuation: USD 170M (Oct 2024)Method |
Be the first | Back |
| 41 | MottuSão Paulo · founded 2020 Nearly 100,000 motorcycles registered in 2025. |
Mobility › motorcycle rental | USD 112M (total raised) raised Series C · USD 50M · Sep 2023 (Bicycle Capital; Endeavor Catalyst, Caravela) |
Last known equity round: Series C · USD 50M · Sep 2023 (Bicycle Capital; Endeavor Catalyst, Caravela)Method | Be the first | Back |
| 42 | DakiSão Paulo · founded 2021 iFood bought a stake of less than 5% in May 2026. |
E-commerce › quick commerce | raised Series D · USD 50M · Feb 2023 (Convivialité Ventures (Pernod Ricard); Tiger Global, Monashees, Balderton, G-Squared) |
Last known equity round: Series D · USD 50M · Feb 2023Method | Be the first | Back |
| 43 | MotoristaPXJoinville | Logistics › freight platform | raised Equity round · USD 46M · Nov 2025 (Bicycle Capital) |
Last known equity round: Equity round · USD 46.5M · Nov 2025 (Bicycle Capital)Method | Be the first | Back |
| 44 | VammoSão Paulo · founded 2022 | Mobility › electric motorcycles | raised Series B · USD 45M · Nov 2025 (Ecosystem Integrity Fund; Qualcomm Ventures, Construct Capital, Maniv) |
Last known equity round: Series B · USD 45M · Nov 2025 (Ecosystem Integrity Fund; Qualcomm Ventures, Construct Capital, Maniv)Method | Be the first | Back |
| 45 | Conta SimplesSão Paulo · founded 2019 | Fintech › spend management | raised Series B · USD 42M · Jan 2024 (Base10 Partners; Valor Capital, Jam Fund, Y Combinator, Big Bets) |
Last known equity round: Series B · USD 41.5M · Jan 2024 (Base10 Partners; Valor Capital, Jam Fund, Y Combinator, Big Bets)Method | Be the first | Back |
| 46 | OnFlyBelo Horizonte · founded 2018 | SaaS › corporate travel | raised Series B · USD 40M · 2025 (Tidemark; Endeavor Catalyst, Left Lane Capital) |
Last known equity round: Series B · USD 40M · Jan 2025Method | Be the first | Back |
| 47 | PaytrackFlorianópolis · founded 2015 | SaaS › corporate travel | raised Series B · USD 39M · Jan 2025 (Riverwood Capital) |
Last known equity round: Series B · USD 38.8M · Jan 2025 (Riverwood Capital)Method | Be the first | Back |
| 48 | VórtxSão Paulo · founded 2015 | Fintech › capital-markets infrastructure | raised Series B · USD 34M · Mar 2021 (FTV Capital) |
Last known equity round: Series B · USD 33.9M · Mar 2021 (FTV Capital)Method | Be the first | Back |
| 49 | Trace FinanceSão Paulo · founded 2021 | Fintech › cross-border B2B payments | raised Series A · USD 32M · Jun 2026 (CoinFund; Coinbase Ventures, Valor Capital, Haun Ventures, Jump Capital) |
Last known equity round: Series A · USD 32M · Jun 2026 (CoinFund; Coinbase Ventures, Valor Capital, Haun Ventures, Jump Capital)Method | Be the first | Back |
| 50 | KanastraSão Paulo · founded 2022 | Fintech › capital-markets infrastructure | raised Series B · USD 32M · Oct 2025 (F-Prime (Fidelity); IFC, Kaszek, Itaú, Valor Capital) |
Last known equity round: Series B · USD 31.9M · Oct 2025Method | Be the first | Back |
Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms
Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in Brazil. Request a correction
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Rankings by sector
Four verticals at launch, more when the feasibility test allows.Coming soon · Top 10
Fintech
Digital banks, payments, credit platforms, banking infrastructure and crypto.
Coming soon · Top 10
Proptech & marketplaces
Rentals, home buying, freight, e-commerce enablement and pet retail.
Coming soon · Top 10
Software & AI
Legal AI, HR, ERP, conversational platforms and expense management.
Coming soon · Top 10
Health, mobility & agritech
Health plans, bus travel, motorbike rental, crop biologicals and farm robotics.
EdtechInsurtechClimateGamingLogistics
The Uback Fundraising Desk in Brazil
Introductions made by a Fundraising Desk partner, currently being selected
An adviser licensed by the CVM (Comissão de Valores Mobiliários), the only party entitled to present Backers’ demand to companies for their funding rounds. Sales of existing shares are handled by Secondary Sales Desks, assigned company by company. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.
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Radar · known eligible companies, not ranked
Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.
- Flash · HR tech › benefits and HR softwareSeries D · USD 28M · Aug 2026 (Battery Ventures, Kevin Efrusy; Endeavor Catalyst)Back
- Mercado Bitcoin (MB) · Fintech › crypto exchangeSeries C (first close) · USD 20M · Jul 2026 (Tether; SoftBank, founders to follow)Back
- Vixtra · Fintech › trade financeSeries A · USD 9.8M · Jun 2026 (Valor Capital; Headline, NXTP, Actyus, Blustone)Back
- Speedbird Aero · Logistics › delivery dronesSeries A bridge · USD 5.8M · Feb 2026 (iFood)Back
- Pagaleve · Fintech › BNPLEquity round · USD 29M · Oct 2025 (OIF Ventures, Sun Hung Kai & Co; Credit Saison, Endeavor Catalyst, BB Venture I)Back
- UME · Fintech › point-of-sale creditSeries B · USD 21M · Sep 2025 (Valor Capital, Bewater; PayPal Ventures, NFX, Globo Ventures, Canary)Back
- Justos · Insurtech › auto insuranceBridge · USD 17M · Jun 2025 (Ribbit Capital; Kaszek, Endeavor Catalyst, Scale-Up Ventures)Back
- Symbiomics · Agritech › microbial discoverySeries A · amount undisclosed · Jun 2025 (Corteva Catalyst; The Yield Lab Latam)Back
- Circular Brain · Climate › e-waste complianceStrategic minority · USD 3.5M · May 2025 (Lorene Urban Mining)Back
- Azos · Insurtech › life insuranceSeries B · USD 30M · Feb 2025 (Lightrock; Kaszek, Prosus, Munich Re Ventures, Maya Capital)Back
- N5 · Fintech › banking softwareSeries A extension · USD 20M · Feb 2025 (Alexa Ventures, Scale-Up Ventures (Endeavor Brasil))Back
- Sami · Healthtech › health insuranceSeries B follow-on · amount undisclosed · Dec 2024 (Mundi Ventures, StoneX)Back
- Beep Saúde · Healthtech › at-home diagnosticsEquity round · USD 18M · Sep 2024 (Lightsmith; David Vélez, CZI, Actyus, DNA Capital)Back
- Genica · Agritech › biological inputsSeries C · USD 12M · Jun 2024 (Mitsubishi Corporation; SP Ventures, Vox Capital)Back
- Solubio · Agritech › on-farm biologicalsGrowth equity · USD 20M · Apr 2024 (Aqua Capital)Back
- EZVolt · Climate › EV chargingStrategic · USD 2M · Sep 2023 (Vibra Ventures)Back
- Pink Farms · Foodtech › vertical farmingSeries A · amount undisclosed · Dec 2022 (SLC Agrícola)Back
- Foxbit · Fintech › crypto exchangeStrategic equity · USD 21M · Feb 2022 (OK Group (OKX))Back
- Tupinambá Energia · Climate › EV charging softwareStrategic · USD 1.8M · Jan 2022 (Raízen)Back
- Swap · Fintech › banking-as-a-serviceSeries B · USD 25M · Dec 2021Back
- Pier · Insurtech › digital insuranceSeries B · USD 20M · Sep 2021 (Raiz Investimentos)Back
- Revelo · HR tech › tech talent marketplaceSeries B · USD 28M · Jun 2021 (Bewater Ventures; IFC, FJ Labs, Valor Capital)Back
- Yuca · Proptech › colivingSeries A · USD 10M · Jun 2021 (Monashees; ONEVC, Tishman Speyer)Back
- Iugu · Fintech › payments & billingSeries B? · USD 22M · Sep 2020 (Goldman Sachs Merchant Banking; Indicator Capital, Smart Money Ventures)Back
- Agrivalle · Agritech › biological inputsGrowth equity · USD 31M · Jul 2020 (Tarpon)Back
- Hashdex · Fintech › crypto asset managementNo equity amount disclosedBack
- Pravaler · Fintech › student lendingNo equity amount disclosedBack
- TerraMagna · Fintech › agri lendingNo equity amount disclosedBack
Born in Brazil, based elsewhere
Companies of Brazilian origin whose main operations are now abroad: not ranked, shown with the law governing their shares.
- Wellhub · Healthtech › corporate wellness platform
Founded in São Paulo in 2012 (as Gympass); HQ moved to New York in 2018 (ranked in the United States)Funding round led by EQT · Aug 2023, at USD 2.4bnBack - Tractian · Industrial AI › predictive maintenance
Founded in São Paulo in 2019; HQ and CEO in Atlanta, large engineering hub in São Paulo (ranked in the United States)Series D · USD 130M · Oct 2026 (Sapphire Ventures, M&G Catalyst; General Catalyst, Next47, Bosch Ventures), at USD 1.4bn (reported)Back - Pipefy · SaaS › no-code workflow automation
Founded in Curitiba in 2015; HQ in Silicon Valley, most R&D and staff in Brazil (ranked in the United States)Series C · USD 75M · Oct 2021 (SoftBank)Back
Born elsewhere, based in Brazil
Companies founded abroad whose main operations are in Brazil.
- Tiendanube (Nuvemshop) · E-commerce › store-builder SaaS
Founded in Buenos Aires in 2011; Brazil (Nuvemshop, São Paulo) is its largest market (ranked in Argentina)Series E · USD 500M · Aug 2021 (Insight Partners, Tiger Global), at USD 3bn+ - Rappi · Marketplace › on-demand delivery super-app
Founded in Bogotá in 2015; HQ Bogotá; large Brazil operation (ranked in Colombia)Series F · USD 496M · Jul 2021 (T. Rowe Price), at USD 5.25bn - Kavak · Marketplace › used cars
Founded in Mexico City in 2016; HQ Mexico City; operates in Brazil (ranked in Mexico)Funding round · USD 500M · Apr 2025, at USD 4bn - Bitso · Crypto › exchange and payments
Founded in Mexico City in 2014; HQ Mexico; Brazil is a key market (ranked in Mexico)Series C · USD 250M · May 2021 (Tiger Global, Coatue), at USD 2.2bn - Belvo · Fintech › open-finance APIs
Founded in Mexico City in 2019; strong Brazil open-finance operation (ranked in Mexico)Funding round · USD 15M · 2025 (Quona Capital, Kaszek, Kibo Ventures, Citi Ventures) - Clara · Fintech › corporate cards and spend management
Founded in Mexico City in 2020; reported in May 2025 to have moved its HQ to Brazil after obtaining a payment licenceFunding round · USD 40M · May 2025 (Citi Ventures, Kaszek) - Pomelo · Fintech › card-issuing and payments infrastructure
Founded in Buenos Aires in 2021; operates in Brazil among other markets (ranked in Argentina)Series C · USD 55M · Jan 2026 (Kaszek, Insight Partners; Adams Street, Monashees)
Not ranked
- Nubank (Nu Holdings) · Listed on NYSE (NU) since Dec 2021
- StoneCo · Listed on Nasdaq (STNE) since Oct 2018
- PagBank (PagSeguro) · Listed on NYSE (PAGS) since 2018; created by the UOL group
- Inter&Co · Listed on Nasdaq (INTR); bank controlled by the Menin family / MRV group
- PicPay · Listed on Nasdaq (PICS) since 29 Jan 2026 (USD 434M IPO); also controlled by J&F group
- Agibank (AGI) · Listed on NYSE (AGBK) since Feb 2026 (USD 240M downsized IPO)
- VTEX · Listed on NYSE (VTEX) since Jul 2021
- CI&T · Listed on NYSE (CINT) since Nov 2021
- Zenvia · Listed on Nasdaq (ZENV) since Jul 2021
- Afya · Listed on Nasdaq (AFYA) since 2019
- Nuvini · Listed on Nasdaq (NVNI) via SPAC merger in 2023
- Méliuz · Listed on B3 (CASH3) since Nov 2020
- Vasta Platform · Created by and controlled by Cogna (group); Nasdaq-listed, Cogna announced a take-private offer in Sep 2025
- Arco Educação · Formerly Nasdaq-listed; taken private by General Atlantic and Dragoneer in 2023 (fully bought)
- Pismo · Bought by Visa (closed Jan 2024, USD 1bn)
- RD Station · Bought by TOTVS in 2021 (R$1.86bn)
- Neoway · Bought by B3 in 2021 (R$1.8bn)
- Vindi · Bought by Locaweb (2020)
- iFood · Owned by Prosus (via Movile) after buying Just Eat Takeaway's remaining stake in Aug 2022 (up to R$9.4bn)
- 99 · Control bought by Didi Chuxing in Jan 2018
- Zé Delivery · Created by Ambev (group unit), not by independent entrepreneurs
- Sinqia · Formerly B3-listed; bought by Evertec (closed Nov 2023)
- Will Bank · Controlled by Banco Master; extrajudicial liquidation decreed by the Banco Central in Jan 2026
- Olivia (AI fintech) · Bought by Nubank (2022)
- Zoop · Bought by iFood (Movile/Prosus group)
- Warren · Agreed sale of assets to Argentina's Cocos Capital (Jul 2026); investors become Cocos shareholders
- idwall · Bought by Serasa Experian (≈R$450M, signed May 2026, antitrust approval pending)
- Minuto Seguros · Owned by Creditas (being merged into its insurance brand)
- Juno · Bought by EBANX; client base later sold to Iugu
- Banco Pan · Bank controlled by BTG Pactual and listed on B3 (BPAN4) — created by a group, not a startup
- Starian · Carved out of the software group Softplan in 2025
- Canopy · Holding company buying software businesses, not a startup
- Housi · Spun out of the property developer Vitacon
The method in Brazil
Calendar. Quarterly ranking, published on the 6th of January, April, July and October. Next edition: January 6, 2027.
Eligibility: at least $1M raised in equity, non-listed company, main operations in Brazil.
Fundraising Desk sought. An adviser licensed by the CVM (Comissão de Valores Mobiliários).
Sources. Brazilian and international business and technology press (Valor Econômico, Pipeline, Brazil Journal, Exame, NeoFeed, Bloomberg Línea, LAVCA, TechCrunch, Bloomberg, Reuters), company and investor announcements.